IMPORTANT NOTICE!
DUE TO THE THANKSGIVING HOLIDAY WEEK
IT IS HIGHLY RISKY TO BE TRADING DECEMBER 2009
GOLD.
MUCH OF THE LIQUIDITY WILL STILL BE IN THAT MONTH,
BUT THE CHANCE OF GETTING CAUGHT UPSIDE DOWN IS
TOO GREAT TO RISK.
PLEASE TRADE ONLY FEB 2010 GOLD WITH THE INTENTION
OF HOLDING THE POSITION UNTIL FEB 2010 BECOMES THE
FRONT MONTH ON TUESDAY DEC 1ST, 2009 WHEN ALL THE
TRADING LIQUIDITY WILL BE IN THE NEW FRONT MONTH CONTRACT
AND MAKE TRADING EASIER AND PRICES FLOW MORE FLUIDLY.
Friday, November 20, 2009
DAILY CHART OF BLACK LONG TERM UPTREND CHANNEL WITHIN THE LONG TERM YELLOW MAJOR UPTREND CHANNEL
IF YOU HAD BOUGHT GOLD FUTURES AT 699 IN LATE
OCTOBER OF 2008 AND HELD ON UNTIL TODAY,
REGARDLESS OF ALL THE INTERIM UPS AND DOWNS,
YOU WOULD HAVE A PROFIT OF ABOUT $45,000 PER CONTRACT
IF YOU DO THE SAME RIGHT NOW, WHERE DO YOU THINK
GOLD WILL BE IN THE SAME TIME SPAN INTO THE FUTURE
AS GOLD RISES IN COMING MONTHS?
2:15 PM PST AFTERNOON GOLD CLOSE
THE WEEK'S PATTERN:
MON, TUES, THURS, FRID, GOLD MOVES STEADILY UP FROM
OPEN TO CLOSE DURING THE CRIMEX SESSION
TUES GOLD HAS AN EVENING DIP BUT MOVES HIGHER
WED, GOLD TAKES A HIT AND MOVES LOWER ALL DAY,
THURS IS A MAJOR FAKE OUT AS GOLD RISES THE ROUNDS
OVER AND CLOSES ABOUT THE SAME AREA IT OPENED
FRIDAY: GOLD RISES FROM OPEN TO CLOSE, A $15 DOLLAR RISE
WORTH $1500 PER CONTRACT IF YOU JUST BOUGHT
NEAR THE OPEN AND HELD ON FOR THE DAY.
THIS HAPPENS FREQUENTLY.
BUT WHAT IF YOU BOUGHT THE OPEN AND HELD ON WEDNESDAY?
IT DRIVES ME NUTS TO TRADE WITHIN A DAY, PAYING EXTRA
COMMISSIONS AND MAKING LESS ON MANY TRADES THAN
IF I'D JUST HELD ON TO MY ORIGINAL CONTRACTS.
TROUBLE IS, WHAT IF I HOLD ON AND A WEDNESDAY HAPPENS?
THIS IS WHY I AM FORCED TO GRAB MY PROFITS WHILE I
HAVE THEM. ONE BAD DAY CAN TAKE ALL YOUR PROFITS, PLUS
SOME, BACK. BETTER A LITTLE THAN NONE OR LOSING MORE.
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